Finally it seems i am allowed to blog about this.
I have had a customer on the Alpha of this for a while and it is a web part that i think many many many people are crying out for.
The Telerik r.a.d editor web part for SharePoint provides the rich text editing controls in a web part that users have been asking for. The out of the box content editor web part does not give the levels of control over what styles etc... the users can use to create their rich text.
For more info: see Ian's Blog on www.wssdemo.com
There should be something up on www.telerik.com soon 🙂